Development

CA Ventures, Harlem Irving Begin Pre-Leasing 270 Hennepin Apartment Tower in Minneapolis

by Kristin Harlow August 31, 2021

MINNEAPOLIS — CA Ventures and Harlem Irving Cos. have started pre-leasing 270 Hennepin, a 22-story apartment tower located at 270 Hennepin Ave. in downtown Minneapolis. First move-ins are scheduled for this fall. The project features 346 apartment units and 20,000 square feet of retail space on the first floor. In addition to floor plans ranging from studios to three-bedroom units, there are two- and three-bedroom penthouse units. Amenities include an indoor pool, outdoor sky terrace, movie theater, fitness and yoga rooms, bike storage and two levels of underground parking. Monthly rents start at $1,425. Residents can currently receive up to two months of free rent.

August 31, 2021

Acquisitions Development Industrial Southeast Virginia

Becknell Acquires 83.4 Acres in Henrico, Virginia for New Industrial Development

by Julia Sanders August 30, 2021

HENRICO, VA. — Becknell Industrial has acquired an 83.4-acre parcel within Sauer Industrial Center in Henrico with plans to construct two Class A facilities totaling more than 725,000 square feet. The sales price and seller were not disclosed. Sauer Properties is partnering with Becknell Industrial to develop the first phase of Sauer Industrial Center. Building 1 will total 446,692 square feet of cross-docked space and Building 2 will be a 279,319-square-foot rear-loaded facility. Both buildings will feature ESFR sprinkler systems, LED lighting with motion sensors and ample dock packages. Both buildings are scheduled for delivery in May 2022. Located on Seven Hills Boulevard in east Henrico County, Sauer Industrial Center is located within one mile of Richmond International Airport. Sauer Industrial Center is a master-planned industrial park spanning 3.3 million square feet. The industrial property will be complete over a span of three phases. Clifford Porter of Porter Realty Co. Inc./CORFAC International is the exclusive leasing agent for the new development and represented Becknell Industrial on the land purchase.

August 30, 2021

Acquisitions Affordable Housing Development Hospitality Midwest Missouri Multifamily

Drever Atelier Partners Acquires Former Missouri Hotel, Plans Workforce Housing Redevelopment

by Kristin Harlow August 30, 2021

BRANSON, MO. — Drever Atelier Partners has acquired Angel Inn by the Strip in southern Missouri’s Branson. The former 342-room hotel will be transformed into a workforce housing community named The Penleigh — Branson Row. In addition to 324 apartment units, the project will feature three resident lounges, a fitness center, playground, pool and pet park. The Penleigh will offer monthly rental rates around $600, along with incentives for early payment, free after-school tutoring and other social programs. Completion is slated for early 2022. Jerry Emery sold the hotel, which was originally built in 1994.

August 30, 2021

Development Iowa Midwest Multifamily Retail

Shive-Hattery, City of Marion Plan Retail Redevelopment Project

by Kristin Harlow August 30, 2021

MARION, IOWA — Shive-Hattery is working with the City of Marion on the design of a retail strip center redevelopment across one-and-a-half acres. Cedar Falls, Iowa-based Eagle View Partners and DCI Group Inc. are the developers for the project, which will convert an aging retail center into multifamily space. The first phase of the project, Broad & Main on 7th, will include 42 apartment units atop retail and restaurant space on the ground floor. The second phase, Broad & Main on 6th, will bring an additional 42 units and parking space. A timeline for construction was not disclosed.

August 30, 2021

Development Georgia Multifamily Southeast

Flournoy Breaks Ground on 298-Unit Apartment Community Adjacent to Battery Atlanta

by Julia Sanders August 30, 2021

ATLANTA — Flournoy Development Group has broken ground on a 298-unit apartment community located along Windy Ridge Parkway in Atlanta’s Cumberland-Galleria submarket. The site is adjacent to Battery Atlanta, a mixed-use village with retail, residential, dining and entertainment options that surrounds Truist Park, home ballpark of the Atlanta Braves. The yet-to-be-named apartment community will feature studios, as well as one-, two- and three-bedroom units. Community amenities will include a rooftop club and gaming terrace, swimming pool, private structured parking, fitness center and a dog park. The four-acre land parcel will include a rooftop terrace with views overlooking Battery Atlanta, approximately 7,500 square feet of retail space and a public greenspace and plaza. Construction is underway with completion scheduled for late fall 2022. Dynamik Design, Kimley-Horn, b+c Studio, Mitsch Design and contractor Flournoy Construction Group comprise the development team.

August 30, 2021

Affordable Housing Development Multifamily Nevada Seniors Housing Western

Volunteers of America Breaks Ground on Desert Oasis Affordable Seniors Housing Expansion In Las Vegas

by Amy Works August 30, 2021

LAS VEGAS — Volunteers of America National Services (VOANS) has broken ground on Phase II of Desert Oasis, an affordable seniors housing property in Las Vegas. Phase II will add 43 new units to the existing 75 units in the Desert Oasis community. The building will include a recreational clubhouse facility with a computer room, exercise room, laundry facilities and a community garden. Desert Oasis will be built with energy-efficient systems using green building techniques and including solar panels and photovoltaics. The entire development will be Energy Star rated. Funding partners include Nevada Housing Division’s Low Income Tax Credit program, City of Las Vegas- and Clark County-provided HOME funds and United Health Care. The building is scheduled for completion in fall 2022. VOANS is the wholly controlled nonprofit subsidiary of Volunteers of America created as the sponsor and parent entity for new Volunteers of America housing development projects.

August 30, 2021

Development Florida Retail Southeast

CIM Group, Miami Worldcenter Associates Break Ground on 78,000 SF Jewel Box Retail Building

by Julia Sanders August 27, 2021

MIAMI — CIM Group and Miami Worldcenter Associates have broken ground on the 78,000-square-foot “Jewel Box” building, one of the last retail components within the $4 billion Miami Worldcenter project. Slated for completion in the second quarter of 2022, the Jewel Box building will feature two levels of retail space. The property will also include a rooftop overlooking the development’s World Square, a 20,000-square-foot public plaza and park. Located at 150 NE Eighth Street, the Jewel Box is situated directly west of the upcoming citizenM boutique hotel and north of apartment tower known as Bezel at Miami Worldcenter. Miami Worldcenter is a 27-acre, master-planned mixed-use project in downtown Miami. More than 150,000 square feet of retail space at Miami Worldcenter has already been completed, with another 130,000 square feet currently under construction and nearing delivery.

August 27, 2021

Development Illinois Midwest Retail

Illuminarium Experiences to Open 32,000 SF Venue at Chicago’s Navy Pier

by Kristin Harlow August 27, 2021

CHICAGO — Illuminarium Experiences, an experiential entertainment company, has unveiled plans to open an Illuminarium at Chicago’s Navy Pier. The 32,000-square-foot entertainment venue, which combines projections and soundscapes to create virtual reality-like exhibits, will be situated inside the former Crystal Gardens venue. This is the fourth Illuminarium location announced in the U.S., following Atlanta, Miami and Las Vegas. The company plans to add dozens of its immersive experience venues in major cities across the globe over the next five years. In Chicago, architecture firms Rockwell Group and Perkins & Will have begun the design of the new location. Illuminarium plans to invest more than $30 million in the redevelopment of Navy Pier. Construction is expected to begin in early to mid-2022, with completion slated for one year after. At Navy Pier, Illuminarium’s inaugural spectacle will be “Wild: a Safari Experience.” The concept showcases Africa’s most exotic animals in their natural habitats via cinematic content shot by RadicalMedia. Following “Wild” will be “Spacewalk,” a journey through the solar system. Viewers will experience what it’s like to walk on the surface of the moon and Mars. Additionally, guests will enjoy The Bar at Illuminarium, designed and developed by the LAB at Rockwell …

August 27, 2021

Development Mixed-Use Texas

Midway Breaks Ground on 150-Acre East River Mixed-Use Development in Houston

by Taylor Williams August 27, 2021

HOUSTON — Houston-based developer Midway has broken ground on East River, a 150-acre mixed-use project that is located on the Buffalo Bayou in the city’s Historic Fifth Ward. Phase I will center around development of The Laura, a 360-unit apartment community, as well as 250,000 square feet of office space and 110,000 square feet of retail and restaurant space. In addition, the first phase, completion of which is slated for 2023, will include 13,000 square feet of open green space for public events and live music. Lastly, a nine-hole, par-three public golf course that includes a restaurant and patio bar will open at East River next year. Project partners include global design firm Page, OJB Landscape Architecture, civil engineer BGE Inc. and general contractor Burton Construction, among others. At full buildout, East River will span 60 city blocks and more than 1 million square feet of commercial and residential space that connects to the rest of the city via a network of hiking and biking trails.

August 27, 2021

Colorado Development Multifamily Western

PointOne Holdings, Stillwater Capital to Develop 330-Unit Spring Ranch Apartments in Colorado Springs

by Amy Works August 27, 2021

COLORADO SPRINGS, COLO. — PointOne Holdings has partnered with Stillwater Capital to develop Spring Ranch Apartments, a multifamily community located in Colorado Springs. Totaling 330 units, Spring Ranch will feature a three-acre quad located between the main two buildings that will feature a pool, outdoor kitchens and fire pits, walking gardens and views of the Rocky Mountains. The property will also offer a fitness center and co-working facilities for residents. The joint venture recently closed on the site acquisition and financing for the project. Construction is slated to begin in the near future, with the first units scheduled for delivery in spring 2023.

August 27, 2021

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